Retail Properties of America (NYSE:RPAI) has been assigned a $19.00 price target by equities researchers at Boenning Scattergood in a report released on Thursday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Boenning Scattergood’s target price indicates a potential upside of 62.53% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Robert W. Baird restated a “buy” rating and set a $18.00 price objective on shares of Retail Properties of America in a research note on Wednesday, November 1st. Zacks Investment Research lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Jefferies Group set a $14.00 price objective on Retail Properties of America and gave the company a “hold” rating in a research note on Friday, December 15th. ValuEngine lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. upgraded Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $16.00.

Shares of Retail Properties of America (NYSE RPAI) opened at $11.69 on Thursday. Retail Properties of America has a 12 month low of $10.94 and a 12 month high of $15.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $2,600.29, a PE ratio of 11.24 and a beta of 0.32.

Retail Properties of America declared that its board has approved a share repurchase program on Thursday, December 14th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of large investors have recently added to or reduced their stakes in RPAI. Millennium Management LLC lifted its holdings in Retail Properties of America by 91.2% during the 4th quarter. Millennium Management LLC now owns 3,421,897 shares of the real estate investment trust’s stock worth $45,990,000 after buying an additional 1,632,224 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Retail Properties of America by 39.4% during the 4th quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock worth $69,270,000 after buying an additional 1,455,955 shares during the last quarter. Two Sigma Investments LP bought a new position in Retail Properties of America during the 4th quarter worth approximately $19,373,000. American Century Companies Inc. bought a new position in Retail Properties of America during the 4th quarter worth approximately $18,630,000. Finally, Zimmer Partners LP bought a new position in Retail Properties of America during the 4th quarter worth approximately $17,808,000. 79.35% of the stock is currently owned by institutional investors.

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About Retail Properties of America

Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.

Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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